Brown Harris Stevens Real Estate Market Report 1Q2022

HOBOKEN:

All Apartments Summary: Strong market conditions continued in the 1st Quarter of 2022 with the average sale price of Hoboken
apartments ending the quarter at $891,000, a 12% increase over prior year. The median sale price also rose with a
4% improvement to $735,000.

There was a 9% drop in the number of closed sales with 193 closings versus 211 during the same period last year.
Apartments spent an average of 37 days on market. Sellers gained an average of 99% of asking prices.

Townhome Market Summary: The average sale price of townhouses was up 25% ending at $1,960,000 when compared with the 1Q of 2021.
Likewise, the median price rose 23% ending at $1,760,000.

The first quarter of 2021 saw 14 closed transactions, 13% less than 1Q 2021. The time that properties remain on
the market dropped to 44 days versus 61 days during the same period last year. Sellers received 103% of their
asking price

DOWNTOWN JERSEY CITY:

All Apartments Summary: The average sale price of apartments in Downtown Jersey City went up 10%, reaching $834,000. The median sale
price was also higher, increasing to $750,000 or 9% more than prior year.

The number of closed sales had a 22% decline with 138 closed transactions comparing to the 178 closed sales from
the 1Q 2021. Sellers received 100% of their asking price with an average of 37 days on market.

Townhome Market Summary: The average sale price ended at $1,447,000 or 8% more than the 1Q of 2021. The median sale price ended at
$1,475,000 or 26% higher than the same period the prior year.

Closings had a significant 19% decrease with 21 closed sales this period vs. 26 transactions during the 1Q of 2021.
Dwellings spent longer on the market with an average of 55 days. Sellers received 103% of their asking price.

JOURNAL SQUARE, JERSEY CITY:

All Apartments Summary: The average sale price of apartments in Journal Square was $405,000, a notable 13% gain when compared with
the 1Q of 2021. The median price also grew to $350,000, a 10% increase over the same period on 2021.

The number of closed remained unchanged with 54 closed transactions. Sellers received 101% of their asking price
with an average of 38 days on market.

Townhome Market Summary: The average sale price for townhouses in Journal Square rose 15% reaching $768,000. The median price also
increase ending at $680,000 or 10% more than 1Q of 2021.

Closings remained unchanged this period with 33 transactions. Dwellings spent an average of 46 days on the
market and sellers received 102% of their asking price.

THE HEIGHTS, JERSEY CITY:

All Apartments Summary: The average sale price of apartments in The Heights displayed a noteworthy 20% increase, ending at $628,000.
The median price also rose significantly, with a 15% improvement when compared to the same period last year,
ending at $625,000.

Conversely, the number of closed sales fell with 69 transactions or 22% less than in the 1Q of 2021. Sellers received
100% of their asking price while properties spent an average of just 36 days on market.

Townhome Market Summary: The average sale price of townhouses in The Heights had a significant 17% increase over the 1Q of 2021, ending at $835,000. The same was evident for the median sale price figure with a 21% rise to $845,000.

Closed sales also rose with 53 transactions or 18% higher than the same period last year. Properties remained on
market an average of 43 days. Sellers received 102% of their asking price.

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Hudson Realty Group is a closely integrated team with exceptional knowledge of the Hoboken real estate and Jersey City real estate markets. Our expertise includes: condosbrownstoneslofts and new developments